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Bitcoin recovers from lows but 50k remains elusive so far

Yesterday, as US yields jumped and the US stock markets slumped and the dollar shot higher, Bitcoin has little choice but to fall back too. The drop below 50k following the release of the US CPI data later extended to a low at 48,347. However, it did not stay down for too long and was already bouncing back into the wider US market close. It extended that rebound earlier today, reaching 49,805. So, a return to back above 50k remains elusive for the time being, but if ever there was a test of its resilience and true departure outside of the traditional markets, then today would be as good a time as any to prove it. Bitcoin is currently trading at 49,640

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